Tag: Market

$3 Million NFT Fortune Vanishes To Crypto Tax and Market Crash, Here’s How

Key Notes Musician Jonathan Mann made $3 million from selling his songs as NFTs in January 2022. As the Ethereum price crashed in the same year, so did the value of his earnings. Still, the Internal Revenue Service office taxed him on the basis of the price he paid for the holding when he first received it. Jonathan Mann, an American singer and songwriter, recently experienced a notable crypto loss due to the market crash. The musician behind the “Song A Day” project lost the $3 million he earned from…

Ethereum Stabilizes After Market Drop – Key MA Reclaim Could Trigger A June Rally

Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Ethereum has experienced a sharp pullback, retracing over 10% since yesterday as the broader crypto market faced a wave of volatility. Despite the decline, bulls are showing resilience. ETH failed to break below the critical $2,300 mark and is…

Crypto Market Structure Hearing Devolves into Partisan Claims

boss

Republican lawmakers on the House Financial Services Committee (HFSC) pushed back against concerns that US President Donald Trump could personally profit from his exposure to the crypto industry, dismissing the claims as political “theatrics” amid ongoing debate about digital assets legislation. In a June 6 hearing organized by Democrats, HFSC ranking member Maxine Waters defended that the lawmakers should focus on “information that has not been explored during the committee hearing” on June 4, which dealt with concerns around the Digital Asset Market Clarity (CLARITY) Act. The debate around the…

Bitcoin market of 2025 driven by stablecoin regulation: Finance Redefined

boss

Despite a week of price consolidation for Bitcoin (BTC), emerging digital asset legislation may provide the next significant catalyst for the world’s first cryptocurrency. Upcoming stablecoin rules, such as the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, may lay the foundation for a Bitcoin cycle top of over $150,000, according to Alice Li, investment partner and head of US at crypto venture capital firm Foresight Ventures. Meanwhile, venture capitalist (VC) interest has slumped. The number of VC deals closed recorded its lowest month of the year in…

Bitcoin leads crypto market slump as Trump and Musk trade punches

boss

Bitcoin slid to fresh lows on Thursday amid a broader market pullback, triggered by an unexpected public clash between two of the most influential figures in tech and politics. A public fallout between US President Donald Trump and Tesla CEO Elon Musk was not on many’s bingo cards for the year, and the unexpected spat quickly sent shockwaves through the markets. Following a series of public exchanges over political disputes, the crypto market took a hit, leading to sharp declines across multiple assets. According to crypto.news data, market giant Bitcoin…

Stablecoin Market Updates: Uber Prefers Stablecoins, Senate Bill to Get Bipartisan Support, Circle Debuts on NYSE

Key Notes Khosrowshahi emphasized the importance of stablecoin as a store of value, hinting that he prefers them over Bitcoin. Arizona Senator Ruben Gallego confirmed that the Senate’s stablecoin bill could garner support from up to 16 Democrats. Stablecoin issuer Circle made a strong NYSE debut, with shares opening at $69 and closing at $83, marking a 168% first-day gain. . Global ride-sharing giant Uber is now exploring the use of stablecoin to reduce costs in moving money cross-border. CEO Dara Khosrowshahi said that the company is still in the…

Ross Ulbricht’s Bitcoin donor tied to dark market Alphabay

boss

A crypto wallet tied to the defunct dark web marketplace Alphabay was reportedly behind the donation of $31 million worth of Bitcoin to Silk Road creator Ross Ulbricht, according to blockchain analysis. Blockchain analytics firm Chainalysis told WIRED for a June 5 report that it had tied the 300 Bitcoin (BTC) donated to Ulbrich earlier this month to Alphabay, a predecessor to Silk Road that operated from 2014 to 2017. Chainalysis suggested that the funds came from a major vendor on the platform who would have had access to such…

Binance Report Shows 260% Growth in RWA Tokenization Market

Key Notes Tokenized private credit dominated the sector, accounting for 58% of the market share, followed by tokenized US Treasury debt at 34%. The sector is benefiting from evolving crypto regulations as the SEC classifies RWAs as securities. Major financial players like Goldman Sachs and Mastercard are exploring tokenization opportunities. Binance Research recently published a new report revealing that the RWA tokenization market experienced a significant 260% growth during the first half of this year. This growth is largely attributed to increasing regulatory clarity in the crypto space, which has…

US Seizes Crypto, 145 Domains Tied to BidenCash Dark Web Market

boss

US authorities have seized 145 domains and an undisclosed amount of cryptocurrency tied to BidenCash, a dark web marketplace accused of trafficking millions of stolen credit cards and personal data. The action, announced on June 5 by the US Attorney’s Office for the Eastern District of Virginia, follows a court-authorized operation targeting the platform’s infrastructure and financial flows. The seized domains are now redirected to a law enforcement-controlled server. BidenCash, launched in March 2022, had grown to over 117,000 users and facilitated the sale of more than 15 million stolen…